Having studied this for years now:
- I think the rapid depreciation from overproduction in 2007, 2008 and then the subsequent innovations from 2010 onward has stabilized. Turbonormalized Perspectives with FIKI are selling for at or slightly more than they were a year ago.
A. There a several forces at work here, but the chief driver of depreciation (IMO) is the significant advances in utility that Cirrus has added, particularly when compared to Mooney, Beech and Cessna. For example, if I can’t get a FIKI G36 Bonanza at any price, then a non-FIKI 2008 G36 is worth about the same, adjusted for hours, as a 2007 or 2009 non-FIKI Bonanza. Not so with a Cirrus, a non-FIKI SR22 is “less capable” than other available Cirri, and will remain so forever. So this “depreciation” exists as to greater degree than other common pistons.
B. They made a lot of G3 GTS Cirri in 2008. A lot. I remember looking at slightly used Perspective SR22s in 2008 and thinking that $449 was a lot for a 4-place airplane. I don’t remember what they were actually delivering them for in those days, but I bet a typical Garmin GTS SR22 has lost less than 20% of it’s original MSRP since delivery. I can’t find a 2008 pricelist to verify, but I bet someone can chime in. The wild drops in value cited by many may be overstated or may be a function of wild price increases as about $120,000 worth of options that weren’t available in the recent past are now commonly ordered.
Steele Aviation has a much more up-to-date evolution of the SR22 line that is current through 2014. Check out their website if you have specific “must-haves.” I have the changes important to me down to the serial number if you really want to get specific.
With the advent of the SF50, I think Cirrus has been slightly neglecting the piston line and will continue to do so. Thus, I don’t see any big-step changes to an airplane that can carry four real people a reasonable distance through real weather burning somewhere between 12 and 17 GPH, with the safety of a bail-out if the airplane really lets you down. The next things for the SR22 line are a G2000 or G3000, diesel powerplant, turbine powerplant, pressurization (in order of likelihood). Those same upgrades are available to all the other guys making piston singles and yet I don’t worry too much about a 2015 Cessna 206 being substantially less capable than a 2017 (and losing the commensurate value). I believe solid, highly capable, well supported airframes are going to retain value barring another world crisis more so than they have since 2008 as the market continues towards corporate turbofans.